Himax Technologies (NASDAQ:HIMX) Lowered to Hold at StockNews.com

StockNews.com downgraded shares of Himax Technologies (NASDAQ:HIMX) from a buy rating to a hold rating in a report published on Friday morning.

Himax Technologies Price Performance

HIMX stock opened at $6.08 on Friday. Himax Technologies has a 1 year low of $4.80 and a 1 year high of $8.73. The business has a 50 day simple moving average of $7.33 and a 200-day simple moving average of $6.19. The firm has a market capitalization of $1.06 billion, a PE ratio of 22.52 and a beta of 2.21. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.68 and a quick ratio of 1.40.

Himax Technologies (NASDAQ:HIMX) last released its quarterly earnings results on Thursday, May 9th. The semiconductor company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.05 by $0.02. Himax Technologies had a return on equity of 5.66% and a net margin of 5.30%. The business had revenue of $207.60 million during the quarter, compared to analyst estimates of $203.40 million. During the same period last year, the business posted $0.12 earnings per share. The company’s quarterly revenue was down 15.0% on a year-over-year basis.

Himax Technologies Cuts Dividend

The business also recently disclosed an annual dividend, which was paid on Friday, July 12th. Stockholders of record on Friday, June 28th were paid a $0.29 dividend. This represents a dividend yield of 5.09%. The ex-dividend date was Friday, June 28th. Himax Technologies’s payout ratio is currently 103.71%.

Institutional Trading of Himax Technologies

Hedge funds have recently modified their holdings of the stock. Summit Securities Group LLC raised its stake in shares of Himax Technologies by 1,400.0% in the second quarter. Summit Securities Group LLC now owns 4,500 shares of the semiconductor company’s stock valued at $36,000 after acquiring an additional 4,200 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Himax Technologies by 77,712.5% in the second quarter. Blue Trust Inc. now owns 6,225 shares of the semiconductor company’s stock valued at $49,000 after acquiring an additional 6,217 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Himax Technologies by 56.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 6,897 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 2,487 shares in the last quarter. JTC Employer Solutions Trustee Ltd acquired a new stake in Himax Technologies in the first quarter valued at $54,000. Finally, Parallel Advisors LLC raised its stake in Himax Technologies by 62.9% in the fourth quarter. Parallel Advisors LLC now owns 10,880 shares of the semiconductor company’s stock valued at $66,000 after buying an additional 4,203 shares in the last quarter. 69.81% of the stock is currently owned by institutional investors and hedge funds.

About Himax Technologies

Himax Technologies, Inc, a fabless semiconductor company, provides display imaging processing technologies in China, Taiwan, the Philippines, Korea, Japan, Europe, and the United States. The company operates in two segments, Driver IC and Non-Driver Products. It offers display driver integrated circuits (ICs) and timing controllers that are used in televisions, PC monitors, laptops, mobile phones, tablets, automotive, ePaper devices, industrial displays, and other products.